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Apr 10, 2014

Fed’s hard line on funding to bring more pain to Wall Street

WASHINGTON/NEW YORK (Reuters) – The U.S. Federal Reserve’s drive to wean Wall Street off risky funding sources is expected to bring more financial pain to the biggest U.S. banks in the coming months, analysts warned on Wednesday.

They said bank regulators’ release this week of tough new limits on debt funding is just a preview of other rules that may have even more bite.

Apr 9, 2014

Non-banks notch a win in long-running derivatives battle

NEW YORK (Reuters) – A group of small brokerages and large commodities companies convinced lawmakers to tweak a rule that they say would have made derivatives trading more expensive for them and sent more business to Wall Street banks that already dominate the market.

Companies including INTL FCStone Inc, Nomura Holdings Inc, Cargill Inc and Royal Dutch Shell Plc lobbied a congressional committee to change a rule proposed by the U.S. Commodities Futures Trading Commission on how much capital they must hold against derivatives trades as dealers. Cargill and Shell have derivatives trading arms.

Apr 4, 2014

Goldman board lifts target for Blankfein to redeem future awards

NEW YORK (Reuters) – Goldman Sachs Group Inc’s board lifted a key performance target that the bank must reach for Chairman and Chief Executive Lloyd Blankfein to redeem a new long-term incentive stock award, according to a proxy filing on Friday.

In addition to his $23 million compensation package for 2013, the board offered Blankfein the potential to receive restricted stock worth $6 million at the time of the award.

Apr 3, 2014

Morgan Stanley CFO says companies need more female executives

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) Chief Financial Officer Ruth Porat on Wednesday called on government and corporate leaders to encourage the promotion of women into senior business roles, saying the number of women in top positions at U.S. corporations is “an embarrassment.”

Porat, one of the most powerful women on Wall Street, said she supports a law proposed by New York Senator Kirsten Gillibrand that would create national paid family leave, and help women to have children without leaving the workforce. She also encouraged businesses to implement protocols that ensure more women are promoted to senior ranks or given positions on boards of directors.

Mar 28, 2014

Morgan Stanley CEO awarded $12 million for 2013 – and that could rise

NEW YORK (Reuters) – James Gorman, Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) chief executive and chairman, was awarded total compensation of $12 million for 2013, double what he got the previous year, the bank said in its proxy filing on Friday.

Gorman’s compensation for 2013 could rise to $18 million under a long-term incentive plan, if he meets certain performance targets in the future, the filing said.

Mar 25, 2014

Analysis – Morgan Stanley investors await Fed’s buyback blessing

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research) shareholders will find out this week whether the U.S. Federal Reserve will allow the bank to start returning capital to shareholders in a meaningful way for the first time since the financial crisis.

But even if the Wall Street bank gets the Fed’s blessing to buy back more shares and potentially raise its dividend, it is unlikely to hit a shareholder return target Chief Executive James Gorman set out for this year, analysts and investors said.

Mar 25, 2014

Morgan Stanley investors await Fed’s buyback blessing

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) shareholders will find out this week whether the U.S. Federal Reserve will allow the bank to start returning capital to shareholders in a meaningful way for the first time since the financial crisis.

But even if the Wall Street bank gets the Fed’s blessing to buy back more shares and potentially raise its dividend, it is unlikely to hit a shareholder return target Chief Executive James Gorman set out for this year, analysts and investors said.

Mar 13, 2014

Avenue Capital hunts for distressed buyout using blank-check IPO

NEW YORK (Reuters) – Marc Lasry’s $12.6 billion Avenue Capital Group has taken the unusual step of funding a deal in the public markets before it has even figured out what it wants to buy.

The New York-based hedge fund and private equity firm raised $220.5 million from investors last month for a “blank check” acquisition company called Boulevard Acquisition Corp (BLVDU.O: Quote, Profile, Research, Stock Buzz). Demand for the deal was strong: Avenue had originally planned to raise just $150 million from investors.

Feb 26, 2014

Morgan Stanley’s wealth unit names three executives to new roles

By Lauren Tara LaCapra

(Reuters) – Morgan Stanley’s wealth management unit has named three executives to new roles as part of its strategy to sell more products to clients and increase its loan book.

Doug Ketterer is taking on a new position as head of strategy and client management, according to a staff memo sent on Wednesday.

Feb 25, 2014

Morgan Stanley could pay $275 million to settle SEC probe

NEW YORK (Reuters) – Morgan Stanley has reached a $275 million proposed settlement with the U.S. Securities and Exchange Commission that would allow the Wall Street bank to move past a substantial legal overhang from the financial crisis.

Morgan Stanley said in an annual filing on Tuesday that it has reached an “agreement in principle” with SEC enforcement staff that would not require it to admit any wrongdoing.